- Thursday, 25 March 2010George Osborne has accused the chancellor, Alistair Darling, of failing to mention in his budget speech a “stealth tax” which could see 30 million working people worse off.
For those with tight budgets, extra tax could force them to make
debt management plans.
Speaking to Sky News, the shadow chancellor said: “One of the largest tax measures in the Budget was not even mentioned in Alistair Darling’s speech.
“That is an effective tax rise on 30 million working people, because when he said he was going to freeze [personal allowance] last autumn, inflation was negative. Now inflation is 3.7 per cent on the RPI.”
That amounts, in effect, to an extra £50 a year for taxpayers on the base tax rate.
Other areas which could hit the indebted hard include duty rises on fuel, tobacco and alcohol.
Drivers must contend with a staggered three pence per litre hike on petrol over the next year, while cider drinkers have seen a massive rise of ten per cent above inflation imposed on them.
Cigarettes are set to cost approximately 15 pence a packet more, with further rises of two per cent above inflation scheduled for every year until 2014.
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